New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-07
WHAT WALL STREET is TALKING ABOUT

THE BALTIMORE AND OHIO 'PREsIDENCY-TELE-
GRAPH NEGOTIATIONS.
There was little real about the Baltimore ard
Ohio deal yesterday. The published statement that Vice
President Spencer had been chosen as the successor OF
Robert Garrett at least premature. The details OF
the proposed change of management have not been
arranged and IL is doubtful II the syndicate which now
controls the policy OF road In consequence OF It's loan
OF SlOOOJOO0 has considered the question oil sue
cession j. Pierpont Morgan said in reply TO the IN
uuirles OF a TRiBUs reporter:
can say positively that there has been no action by
the syndicate ABOUT the presidency. have not heard
that has resigned the Office ana III iact 40
tcse details The directors choosc the president, put
presume tnat in accordance with tue ngreemehl ,ey
would ask the syndicate II the candidate was accep,apc
10 A. Mr. spencer would be satisfactory 10 me person
ally have been called ON TO approve MS eiec
ton ~ AN ONCE not yet vacant -,
Inc eAsminliion OF the affairs OF the Baltimore and
Ohio Railroad mas ell 10 Edward lhutcfoach
as counsel the syndicate II has already been pc
but has reached the stage where IL VIII DC turheu
10 Mr. LaulerDach
Samuel sp.ucer fret vice president of tho Baltimore
an, OHIO italroad, asked what tOuhdatioh there
was statement that the roai hd pas'ei ING .
control OF syndicate wnicn Mr. Morgan ~ Tue he"u
ANA how far that control wo Id extend he rePheu'
The absolutely without foundation The syn
dicat, dces ih.t NE Same ie.%n' sns , h ns
now prevail b-tween.s sly. the Pepnsyivsna mngAd aa
oo1 an c..oporsIion suDsrryency OF any
one interest rns s.nc sy9dnato practically funded mo
Mrwyrs Ce tr power followed The Dangrr' bake.
ts s 49, p.n.yIy.a Railroad nomination no. these
copanirs lar weaker posilions I.h inc a,
an. 10 protect their int, rests, develop 'her re.
sources. ard serve Ihe 60 ~ n,.,, ~ M, iae
.Ir,py nioniod ppsers this conhr' ana ,ngI iho
syn has te greatest iloost now ~ INC 49,
Iosress tac Baltimore 1ni ONO a"u ~ ours @ Ro"s
d aDsoiut Independence o. otter COZ pro
0aiaanco essential aud tue rosa mus 90 . con MAN
OF easily o..ins TO- anu - As % cm s Trp, !,
the Bai'inorv and h,o =. . o. hsy md
~ .n;, with sc lsmoio and Ohio shall IN any
VA, be isc thev cannot De without uo
nn.r OF ala three corr which parties 70 them g
obey legal and binding upon ~, OF ue% And
n 80, ouisatous wero iitcd on S-ptemUrr J. 20 snch
a,uount and tnere was no pressure upon Wv
PAM II the lime. the loan secured Ihousn ,no i.
VA for future uso tn proceeds w DO useu ohJ &c
needed.
IL was stated to-day that you would succeed 10 inc
presIdeucy, " the reporter suggested. -, ,.,., .,
nave nothing whatever TO say upon mat suiyccI
p. I,ea AR seucsr " IT viii DO line e"ousn W uiscuo'
that when Mr.. Garrett sispnes his determination ~ TO
tire" .
49, moi I,,eu chan materially. All the chpie com
u.u,es are better rates. Out hPp .n
i.n, ana o, ,nsi,lOn cvpanies are waiting on eavn
s,uer An Ddvance In tolls might 10 aIreusen ''o,.s
,j,r soIe circumstances. The negotiations pot"coi
Mr. siacnay and DIR could arc AT sianostiii ahousn
tuey have not been abaiuoned MI mhcAhJ 10 S' -.
.n rancsc ad 10 IL not probable IL 10 SAID hat ne
wliI b. IN Aew YORK. again before OcioDer on .o p
~ me esteru unlvn lines IL Ia lntiiaicu that tc uuo:
ION merely one OF price, Hie"u Va ~ '
said: .... ,,n.. ,s any ,aIk of seIlipg
mt Iur con. erence between or. OOuii una MI ""Ony
WAS arranged BY mutual flend WAC mp W u,pe o
=. ar IA an END, Mr. siacgay Wiling " auVaice ,hc
tatn 10 any pr,ce not over 9O cents "oiu ou' o,o
was attempt ~ limit thc euiiings 81 s"o a ~.
Dinpauy the advauce aud 10 tls Mr macshy
Outrcted nually tbnt II an advance coum no, e
agreed upon company would lover the rates 10 ue
Ir,u of the pOOI settlement OF the wal ~
nsry question time, the rates are below cost q